- VerSe Innovation announced recently that it raised $805 million in funding. These are the details.
VerSe Innovation – the parent company of news aggregation company Dailyhunt and the short video app Josh – announced recently that it raised $805 million in funding. This round of funding values the company at nearly a $5 billion valuation – which is up from around $3 billion 8 months ago.
The Series J round of funding was led by Canada Pension Plan Investment Board (CPP Investments). And Ontario Teachers’ Pension Plan Board (Ontario Teachers’), Luxor Capital, Sumeru Ventures, and existing investors Sofina Group and Baillie Gifford also participated in the round.
The new funding round brings VerSe Innovation’s total funding to around $2 billion. Some of VerSe Innovation’s other investors include Google and Microsoft.
VerSe Innovation runs 3 apps that are widely used. For example, Josh has over 150 million users, 50 million of which create and publish content. And Josh has hundreds of music videos provided by 15 music labels, which generate over 80 billion plays per month.